KUALA LUMPUR – A Malaysian court on Wednesday directs immediate release of a Pakistan International Airlines (PIA) plane that was held two weeks ago in wake of a British court case over the jet’s lease.
The court directed to release the plane with immediate release as both sides had reached an amicable settlement to the dispute.
PIA counsel Kwan Will Sen said Peregrine has agreed to withdraw lawsuit against Pakistan International Airlines Corp and for the injunction orders to be set aside. With this, the two Boeing aircraft operated by PIAC would be released with immediate effect.
Earlier on January 23, the national carrier informed the London High Court that it has paid around $7 million to Peregrine Aviation Charlie Ltd in the case of two jets leased to it by the Dublin-based AerCap.
